China's automaker BYD launches its brand in Ukraine

Updated: 2011-10-27 01:14:00

(Xinhua)

KIEV, October 26 (Xinhua) -- China's automaker BYD Co., Ltd. has officially launched its brand in Ukraine on Wednesday as the company sees the country as one of the major markets of the Commonwealth Independent States.

"I hope that the company BYD and its partners will contribute to the development of Ukraine's automotive market," Henry Lee, Vice-President of the company and its Director for export said.

The automaker is launching 4 models, the BYD-F3, the BYD-F0, the BYD-G3 and the BYD-S6 under the brand in 2011. The prices of the vehicles will be from 10,000 to 15,000 U.S. dollars.

The company, which had already got a total of 14 dealerships throughout the country, is expected to sell 2100 units in 2012.

Founded in 1995 as a manufacturer of rechargeable batteries, BYD Co., Ltd. engages in the research, development, manufacture, and sale of rechargeable batteries, automobiles and related products. Since 2003, along with the release of batteries, BYD became an automaker. In 2009, American multibillionaire Warren Buffett became a shareholder of the company.

BYD, one of the fastest-growing Chinese auto manufacturers, has more than 200,000 employees in 14 factories around the world. The company intends to become the largest automaker in the world till 2025.